Iron ore mining closure taking heavy toll on Goa economy

SC in its February 7 order, had quashed 88 mining leases, which had to wind up their operations from March 16, bringing the entire industry, a key source of revenue for the government, to a grinding halt.

PTI|

Nov 29, 2018, 06.45 PM IST

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The closure of iron ore mining in Goa since the last eight months has adversely impacted the state's economy which is facing Rs 1,500-crore revenue loss every month from the sector besides jobs taking a hit, said officials and industry bodies.

The Supreme Court, in its February 7 order, had quashed 88 mining leases, which had to wind up their operations from March 16, bringing the entire industry, a key source of revenue for the government, to a grinding halt.

Goa Minister Sudin Dhavalikar had last week told reporters that revenue to the tune of Rs 1,500 crore is being lost per month due to closure of the mining industry, which has also impacted the livelihood of around 2.5 lakh people.

"The revenue source is shrinking right now due to closure of mining. We are losing around Rs 1,500 crore every month. The resumption of industry is necessary to save the state from facing an economic slowdown," he had said.